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20121201
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, when the victims are innocent children, it's time to move from conversation it action. tyler? >> hampton pearson, thank you. >>> to the markets now. apple dipping below $500 a share for the first time since february. in premarket trading, this after citi downgraded stock. the company did sell better than expected 2 million iphone 5s in china over the weekend. the best smart phone launch ever in that country. what will the future bring with apple? i'm here with spencer from wall street journal. spencer, people have been unloading apple over the past few months. is that selling pressure overdone? >> well, it looks like since apple released this announcement saying they have sold over more than 200 million iphones in china, and it takes it down a new low for apple, it has rebounded. apple is entering a new relationship for its investors. the last few years it's been this amazing lovely marriage. both sides completely in love with each other. the last few quarters they are questioning tlir relationship. they are fearing, can the growth continue? can the innovation continue? this
as possible, moving down that path is the right course of action for us. >> what boehner is proposing is extending bush tax cuts for everybody that makes less than $1 million a year. they say that will take the threat of tax increases off the table for most americans. but the white house and democrats up here on capitol hill have already rejected that option, guys. we're sort of at a little stalemate for this hour, maybe the next. >> there is some talking going on evidently. let's take you deeper inside the new proposals on the table, show you the differences. our senior economics reporter steve liesman has the fiscal clifferences. >> we're only going to do revenue. we're not going to do spending. come back tomorrow and hopefully get more spending. let's just do revenue. it's enough. >> clifferences. >> the first thing here, let's look at tax increases. what we understand with the new proposal of obama to raise tacks on those making $400,000 and higher, that would raise $600 billion in revenue. we believe the revenue side from the gop is $460 billion. just a warning on the gop. not ge
. bertha coombs tracking the action at the market. >> very quiet. very low volumes. gold edging lower as the dollar has edged higher. they say incentives to buy are postponed with so much uncertainty over the fiscal cliff and what's going to happen over the next couple of days. gold is on track for its fifth straight weekly decline, but for the year it's the 12th year of gains. so this is the first year since 2004 that we've seen gold under perform stocks. one of the big winners came under a lot of selling pressure as a lot of people try to get ahead of the fiscal cliff. silver on track its fifth weekly straight decline. copper back-to-back gains this week. a little bit of hope that we'll see more demand for copper this year as china's new government may do some more urbanization. if you take a look at the metals, those with industrial properties, particularly the precious metals, platinum a big winner, palladium a big winner, those used in catalytic converters. >>> thank you, bertha. >>> the iranian navy holding massive drills in the strait of hormuz. this comes from iranian state te
second big short idea of my career. >> this is p somewhat dependent on the ftc taking action. if they don't, what happens. >> i think the fdc will take hart look. i think the scc will take a very hard look. i think the new distributor will be better informed and this is where the media comes in. this is where, i don't know how many distributors watch cnbc, i'm sure some do, but we have 50 plus members of the media here, much broader collection of the media like cnn, et cetera, that will reach to the community. think about a pyramid scheme -- >> what would you say to those who would say you are trying to advertise yourself on one side of this. you are trying to manipulate the success of the company and therefore the stock price. >> we simply want the truth to come out. if distributors knew the probability of making $95,000 a year, which is the millionaire team as they call it, level, was a fraction of 1%, no one would ever sign up for this. and we simply expose that fact. the company has done their best to keep that from the public. the media exposes facts about things like pyramid schemes
at capitol hill. there's a lot of finger pointing but not a whole lot of action. >> all right, eamon. thanks so much. >> you bet. >>> as negotiations continue on washington, that is a bit of an overstatement, check wall street, the fear index is spiking as the markets drop. we're back above 20 for the first time in fact in five months. up 14% in the past week. let's get trading action here at the nysc. mary thompson joins us on the floor. this is a vulnerable point for the markets. traders have been saying they're going to make a lot of noise and it will get made up. >> suddenly it isn't. so we're having a bit of a reality check. the dow, the s&p and the nasdaq all negative. it's the lowest now of the month. the vix is spiking. moving above the 20 level for the first time in five months. we want to point out the last time we had this angst over what was happening in washington was in august of 2011 when we had the debt crisis and the subsequent downgrade. at that point the vix was well above where it is, more than twice where it is. so while the fear index is high, up 31% in the last session
and a third point. my partner here on the floor of nyse joins me in the action. 24 hours ago we were sitting here with a triple-digit gain, actually. now, there is disappointment in washington. >> let's just say the markets are digesting all of this news today, that means moving side ways, a fancy word, folks. we are talking like 30 points. that pretty small. and the president sounding alternative sounding con ciliatory and often combative as you hear from john harwood. here is the bottom line. big movers, bank stocks, home moving stocks, that sue just referenced. all basically flat today. if you take a look at the one sector though that is still continuing to have a great day, doing it day after day and that's airline stocks, very positive traffic metrics from airlines in the last few weeks and these stocks have been moving up virtually everyday. there is your market today. this is a quiet day when you see airlines as the market leader. >> true. good point. we will see what happens when we ceci you see you the next half hour. >> what is the likelihood before the year's end. a democrat from
to be closer to new year's for me to get interested in apple. >> have you looked at the options market action in it? i don't know whether you have. >> i glossed over it and hasn't given me anything substantive yet. >>> i want to draw our viewers' attention to avon products. this is a rare one to leave the s&p 500 but that's what's happening right now. shares up almost near the highs of the day here at 5.2%. analysts aren't exactly sure what's behind the move but still, it's one to mention. remember coty offered to buy avon a couple of times earlier this year. they walked away from that deal twice. in a year we're down more than 15.5% on avon products. >>> automakers revving up sales. mercedes-benz posting its best results ever in america. the ceo of the u.s. division will join us exclusively to talk about how he plans to keep those sales motoring along and whether he is hiring. >>> speaking of hiring, with millions still out of work, why are manufacturers having a tough time filling new positions? phil lebeau searching for answers? wheeling, illinois. >> tyler, the answers will surprise you.
a $2 loss in the gold market. sharon epperson is track being the action down at the nymex. sharon? >> gold prices are finishing the day basically flat here, sue. we're right around $1,693 an ounce. keep in mind, gold prices have lost about $50 in the last week or so and goldman sachs today saying that they are lowering their three, six and 112-month forecasts on gold. they say $1,825 is down from the $1,840 level were expecting. for 2013 they look for the arch price to be $1,810. freeport mcmoran, $9 million deal to diversify into energy, the world's largest copper producer, still a lot of interest in copper. they say their opinion on copper has not changed. retail investors looking to buy copper, buy gold as well. of course freeport is one of the world's largest producers of gold. they're doing it through the exchange traded products. the jjc for copper and gld for gold. copper prices nearly coming in to where gold prices are the last month or so as gold prices and gold holdings are at record levels. back to you. >> thank you very much, sharon. >>> let's get the trading action he
of action, not a lot of activity at all. people just in this wait and see mode, right? more chatter out of washington. i think a lot of people expecting the interview with the president, hear what he had to same the market got weaker after spoke. >> down 18 point on the trading session now the volume disturbing now, because there is none. >> that just tells that you investors are, a, exhausted, and b, not going to make decisions until there's more clarity. until there is clarity, this is what we will be stuck n >> might as well start the feast of the seven fishes. >> the lobster sauce. >> recipe tonight. listen, got celebrate something. >> start somewhere. all right, kenny, thanks very much. ty, back over to you. >> thank you very much, sue. >>> one impact of the upcoming fiscal cleave is the sheer number of companies announcing dividends, all in an effort a-to-avoid tax hikes set to kick in at the end of the year. more than 100 companies announcing almost $23 billion worth of payouts. there you see a scroll of so many of them. those coming in the fourth quarter. good for shareholders b
partner sue herera in the center of the action downtown at the nyse. >> stocks are slightly lower right now despite those fiscal cliff anxieties. they've been pretty steady throughout the day. the s&p 500 broke above its 50-day moving average, believe it or not. earlier in the day it's backed off a little bit. economic news and new data shows u.s. manufacturing falling to its lowest level in three years. and there is a little nervousness about the president taking to twitter at 2:00 p.m. eastern time to talk about the fiscal cliff negotiations that are going on. but it is the first trading day of the month and some on wall street are getting bullish for year end. it is going to be a december to remember, i predict it. >> i think this is one of the reasons we're holding up so well, because december is the best month of the year and we roll into january which is also a very good month. let me show you some sectors that do especially well in the month of december. there's major sectors here. this is the best performing sectors in the month of december, averaged over the last ten years. you
for action from their senate colleagues. so the senate and white house are leading this charge at this point. sue? >> yes, we spiked to 13,000 on the dow as we got news that obama will speak under now 28 minutes time. let's bring under john har wood. what else are you able to tell us? the stock market disappointed to learn this may be an attempt to make a political point rather than a broader announcement. >> yeah, i think the stock market was misinformed if it thought that the president was going to come out and announce a deal. still could happen because they could settle in the next few minutes. but so far we don't have a deal yet where we are looking at the contours of an agreement between vice president biden and senate minority leader mitch mcconnell is increase to 39.6 for income somewhere between 400 and $500,000 and probably 450,000. the estate tax would go up slightly from the level of 35% and current law scheduled to go up to 35 and would probably go up slightly to 40%. you are looking at one year extension of unemployment benefits pen you a honk do they defer across the board aut
.99%. that's when the move will happen and people need to be aware, investors need to be aware of what action when that happens. >> especially with the amount of money in fixed income. >> right. sale of the fixed income into the equity asset. what you could wo expect has we move towards that goal is that the market would be -- eks wit ma market would start to heat up. >> feds have been trying to get the investor to take on more risk. >> and they have been successful in getting the investor to take on more risk. there's been no change another than the continued talk of the stimulus. >> when you nad what is happening with higher tax rates it makes it a very, very muddled picture for investors. one that investors need to sort through. tax rates are going higher and if cap gains rate is still discounted relative to ordinary income, maybe 20% rather than 15%, higher but less than ordinary incan come -- >> right. >> the whole map is being arranged with this fed information towards going towards -- >> we talked about that yesterday to rob at blackrock and here is what he had to say. >> can you see d
, rise above d.c." we've heard a lot after a morning of interviews and action on capitol hill. here is what we know now. just a short while ago house speaker boehner said he's still waiting on a solid plan from president obama. >> i'm hopeful we can reach an agreement. this is a serious issue. there's a lot at stake. the person people sent us here to work together towards the best possible solution, and that means cutting spending. the president doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the congress. >> meanwhile despite all of the back and forth, the market is seemingly optimistic today. at least some form of a deal will be released. we've been up 100 points on the dow industrials for the past hour. senator mark warner of virginia perhaps putting it best saying compared to the size of our economy the current proposals are relatively small and government should step up and get a deal done. >> we're joined by representative lee terry, republican from nebraska represents the district home to a guy we all know, warren b
science. it's just common sense. from td ameritrade. >>> let's turn our attention to the trading action here at the new york stock exchange. mary thompson is with us on the floor today. hi, mary. >> tyler, the story has basically been another special. the dow has been held in the 48 point range, the s&p as well. apple set to be down for the tenth week out of the last 12. also the weakness that we are seeing in energy stocks despite the gains that we are seeing in oil energy stocks went lower by a warning from the oil services company on concerns about weakness in north america. this comes on a day when we had beat the news on inflation here in the u.s. as well as factory output and decent news from china where manufacturing rose to its highest level. that is given a lift to steel as well as metal. airlines are also stronger. they are hitting the fal, the index of the airlines hitting a 52-week high for the fourth straight session. one of the reasons, the strength in southwest air linings. the company seeking to raise another over $1 billion in added fees. the stock hitting the middle of
. 30-year bond market off the charts and rick san telly is tracking the action at the cme. first one since the move within ricky. i'm still aclempt from the idea of steve leisman taking off his shirt. >> let's hope ben bernanke isn't listening and show his shirt either. d & d wasn't a good auction either. atting to an issue originally couponed one month ago. and the internals were very weak. let's look at the one issue market, right before bidding ended was 2.885 at 2.88, where did this price, at 2.917, higher yield, lower price. all internals to bid 2.5. indirects at 39.7 were average. directs were strong but couldn't bailout pricing failure of this third year. remember, a lot of volatility in underlying markets throughout the morning. tyler, back to you. >> rick, thank you very much. to housing now. just when we thought we were on the road to recovery. repossessions hit a nine-month high. and we hear happy news from washington. i thought foreclosures were easing. >> they are, look. the good news, tyler, is that newly started foreclosures are starting and that is pushing down overal
action at the 162 on ten-year. what are they watching today, ricky? >> once treasuries opened today, we did see that rates were lower into our time zone. as you pointed out, we are virtually unchanged to really stress how side ways much of our action on a closing basis has been. look at the chart about 4 months to early august. we spent day in the high 150s, we haven't closed there unlike boone. see a similar time reference chart but they are at 4 plus month yields tp makes sense considering questionable politics going on. for example, italy. though there is a question of politics going on here, i guess. if we look at other issues, the euro currency has been up a little bit today. there are questions about the dollar index with the fed meeting. if you look at corporate barclays and both continues to super well behaved. not only are we looking for tax avoidance, we being businesses and corporations, but individuals looking for better yields than 1.614 i see on the current ten-year. tyler, back to you. >> rick, thank you very much. >>> one aspect of the fiscal cliff debate that hasn't bee
undercurrent law. watch for that to come back in this debate. but the most important thing now is the action shifted to the senate where the president is going to talk to harry reid, presumably talking to mitch mcconnell, republican leader, and try to see what they can work out on a bipartisan basis that can pass the united states senate. in addition to nancy pelosi who will speak in a few minutes, harry reid is about to speak on the senate floor and that could be significant in terms of describing the way forward. sue? >> indeed, john. when the president does speak later this afternoon, about a half an hour from now, we heard he will nominate senator john kerry as the next secretary of state. what are you hearing on that point and how will the process go forward? >> he is going to nominate john kerry, secretary of state. that process has been in development for some time. when susan rice withdrew over the criticism attached to her from the benghazi incident, it left john kerry as really the principal candidate for that decision. we are told that is the only announcement the president will m
in this debate, jim, that you think of as investable, actionable, right now? >> well, sure. we tend to think of this as a binary event. either we come to a solution or don't come to a solution. i say that's not the case. there's three different things. one we come to a solution the market accepts and likes, one that it hates or we go over the fiscal cliff. one that the market hates and going over the fiscal cliff seem more likely to me. either one will be an economic drag. i like procter & gamble, big companies with good cash flow that are somewhat recession proof. >> thank you very much, jim iuorio. >>> in the weeks before christmas, not a creature was stirring. not even the house. accept, of course, on twitter where one of the top trending words is cliffmas. in a fiscal cliffmas used in a tweet from the reformed broker, josh brown. according to the congressional daily, the hill, illinois senator dick durbin also jumped on the phrase this week, "21 days until christmas. 27 days until cliffmas. that's the fiscal cliff, december 31st." >>> research in motion stock taking a hit this year. it f
, therefore, that will lead us in terms of price action over the next five days. bob pisani? >> if you look at the interday, we were positive on the day earlier on. we dropped in the middle of the day and some people are attributing this to concerns that the house leadership did not issue the 48 hour call for the whole house to come back into session and vote on a proposed plan even though there isn't one out there, some are interpreting this to mean there will be no deal certainly going into the weekend. of course, the time period on which we can do something now gets smaller and smaller. let me show you a couple sectors here. we talked about this mastercard report on sales only up 0.7%. luxury retailers getting hit hard. can i just point out that none of these luxury retailers have done very well this year. tiffany, coach, ralph lauren are negative on the year and have been even before today's report. michael kors is the standout in luxury. remember they went public about a year ago. that's had a great run, up about 60% this year. but that's the standout in retail. can i also point out th
Search Results 0 to 18 of about 19